Nvidia is turning AI investment into a second growth engine. Its holdings across artificial intelligence reached $99 billion as of July 26, 2026, up from about $7 billion a year earlier and about $2.2 billion two years earlier. The chipmaker is no longer just selling the picks and shovels for the AI boom — it is buying pieces of the mine.
Nvidia reported $42.783 billion in marketable equity securities and $51.157 billion in non-marketable securities on its balance sheet as of July 26, 2026. The filing also included $4.957 billion in long-term publicly-held equity securities subject to lock-up restrictions through December 2027.
The year-earlier Form 10-Q for the quarter ended July 27, 2025 showed publicly-held equity securities of $3.199 billion and non-marketable equity securities of $3.799 billion. Each of the most recent quarter’s marketable and non-marketable equity lines is more than ten times its year-earlier counterpart.
A Portfolio Built Across the AI Stack
Nvidia’s non-marketable equity securities were valued at $47.898 billion as of July 26, 2026, up from $3.799 billion a year earlier. During the first half of fiscal 2027, Nvidia recorded $31.005 billion in net additions to those securities and $7.504 billion in unrealized gains.
The company also held $3.3 billion in investments in infrastructure financiers accounted for under the equity method. Those investments deemed to be variable interest entities carried a maximum loss exposure of $4.7 billion — because even a company selling the tools for an AI gold rush still has to keep an eye on the bill.
Public-market gains added another layer to the expansion. Rising share prices produced net gains of $7.771 billion in the second quarter and $23.707 billion in the first half of fiscal 2027, while net unrealized gains on publicly-held equity securities held at the end of the period reached $12.5 billion for the first half of the fiscal year.
Nvidia had $36.9 billion of investments subject to short-term lock-up restrictions and had committed $25 billion toward equity investments in AI model makers, infrastructure financiers, and other private companies. That commitment line signals that the $99 billion figure is not a finish line; more capital is already designated for the ecosystem.
The portfolio spans frontier AI labs, cloud providers, and infrastructure companies, including OpenAI, CoreWeave, and Nebius. In 2026, Nvidia committed over $40 billion to dealmaking for financing rounds across the AI stack and announced partnerships with major investment firms aimed at mobilizing more than $500 billion in financing for Nvidia’s GPUs.
Big Bets, Bigger Exposure
Nvidia said it would provide up to $105 billion in conditional credit support for an OpenAI data center in Ohio. In February 2026, it said it would invest $30 billion in OpenAI as part of a $110 billion funding round, adding a financing relationship to its already substantial exposure to the company.
The company also announced plans to acquire AI startup Hugging Face for $12.9 billion and invested nearly $50 billion in frontier AI labs. Nvidia invested $2 billion in CoreWeave in January and secured a $2 billion investment in Nebius in March.
Since March, Nvidia committed at least $6.5 billion to companies developing photonics and optical technology. Lumentum, Coherent, and Marvell each received $2 billion investments from Nvidia, putting optical infrastructure alongside model companies and cloud providers in the same capital strategy.
Other holdings show how far the portfolio extends beyond specialist AI firms. Nvidia’s $5 billion investment in Intel increased to a value of $30 billion, while its SpaceX holding was worth $21 billion as of June 2026.
The numbers show Nvidia using its balance sheet to shape the market around its GPUs. Investments, credit support, acquisitions, and financing partnerships give the company connections across the infrastructure needed to build AI systems — from chips and data centers to optical links and model developers.
That strategy brings influence, but it also ties Nvidia’s fortunes to the valuations and spending plans of the companies driving AI demand. For now, rising public holdings and large unrealized gains are making the approach look brilliant. Markets have a long memory, though, and a portfolio this large eventually has to prove that strategic reach can produce durable returns.
Based on
- Nvidia’s AI Sector Equity Stakes Grow, SEC Filing Shows — unite.ai
- Nvidia’s investments grow to $99 billion as chip giant expands its reach — cnbc.com
- Nvidia Earnings Confirm Strong AI Demand—But Reveal Where Risk Is Building — forbes.com
- What’s behind Nvidia buying Hugging Face? Look to Microsoft — cnbc.com
